Conditional Formatting - Highlight Cells

I want to format 2 columns cells based on criteria in another cell. Basically, if cell A1=5%, I want Cell B1 to be highlighted blue, whereas if A1=3% the cells should be highlighted purple. Furthermore, I need a condition to include that only cells in Column B with values be formatted.

I have attached a spreadsheet explaining further and showing how I need the sheet to look when completed.

Any help you could give me would be much appreciated.

Thanks in advance...

Select from E4:F32 and go to Home|Conditional Formatting|Manage Rules

Click New Rule
Select Use a formula to determine which cells to format
Enter formula: =AND(E4<>"",$C4=0.05)
Click Format and choose appropriate formatting for 5% in column C.

Click Ok, click New Rule and repeat above with formula

=AND(E4<>"",$C4=0.03)